8.2 Healthcare Economics Flashcards Preview

Semester 4- HaDSoc > 8.2 Healthcare Economics > Flashcards

Flashcards in 8.2 Healthcare Economics Deck (15):
1

What is 'scarcity' with regard to healthcare economics?

Need is greater than resources so prioritisation occurs

2

What is 'efficiency' with regard to healthcare economics?

Getting the most out of limited resources

3

What is 'equity' with regard to healthcare economics?

The extent to which distribution of resources is fair

4

What is 'effectiveness' with regard to healthcare economics?

The extent to which an intervention works

5

What is 'utility' with regard to healthcare economics?

The value of individual places on a Health State

6

What is 'opportunity cost' with regard to healthcare economics?

By choosing to use resources for one thing, the opportunity to use those resources for something else is given up.

7

What is technical efficiency with regard to rationing?

The most effective way of meeting a need

8

What is allocative efficiency with regard to rationing?

Choose between many needs which need to be met to get best overall outcome

9

What is an economic evaluation?

Comparison of resource implications and benefits of alternative ways of delivering healthcare

10

Describe a 'cost-minimalisation analysis'

Focus of evaluation is on costs. Outcomes are said to be equal. However, this is rarely true

11

Describe a 'cost-effectiveness analysis'

Compare drugs which have a common health outcome. They are compared using cost per unit outcome

12

Describe a 'cost-benefit analysis'

All inputs and outputs valued in monetary terms. However, it is hard to put a monetary value on some outcomes eg. lives saved

13

Describe a 'cost-utility analysis'

Focuses on quality of health outcomes using QALYs

14

What is a QALY?

Quality Adjusted Life Year
1 year of perfect health = 1 QALY

15

Give 4 restrictions of QALYs

Do not distribute based on need
May disadvantage common conditions
Do not assess wider impact
RCT are not perfect evidence to base off
QALYs may not look at all dimentions of benefits